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    Russian Economy General News: #2

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    Austin

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    Re: Russian Economy General News: #2

    Post  Austin on Mon Nov 10, 2014 4:57 am

    CB: The Russian economy will be stable when oil at $ 80 and sanctions

    Читайте далее: http://www.vedomosti.ru/finance/news/35737601/bank-rossii-povysil-prognoz-po-inflyacii-na-2015-2016-gody#ixzz3IecnO9cz


    Bank of Russia Today published an updated draft of the main directions of the monetary policy (DCT), which, in particular, has greatly increased the inflation forecast for 2015 and 2016 in the baseline scenario. First deputy chairman Xenia Yudaeva in comments to a document written that the Russian economy will be stable even under a condition if the price of oil during the 2015-2017 period would remain at $ 80 per barrel, and reciprocal sanctions will not be lifted.


    The draft contains the main directions of the DCT and stress scenarios - the fall in oil prices to $ 60 per barrel in 2015 with the restoration of up to $ 80 in 2017, but the Central Bank considers it unlikely. In this case happens when the ruble weakening economic downturn. In 2015, GDP will fall by 3.5-4.0% inflation will be 7.5-8.0%.
    Under the baseline scenario ($ 95 per barrel), the Central Bank expects that inflation next year will amount to 6.2-6.4% (Instead of the previously expected 4.5-5%), and in 2016 - 4,9-5,3% (Instead of 3.7-4.2%). Next expected slowdown in inflation to the target level, the evaluation of the Bank of Russia, by the end of 2017 inflation will be 4-4.6%. This scenario provides for zero growth in GDP and capital outflow of $ 99 billion. The forecast net capital outflows from the country for 2014 increased to $ 128 billion from $ 90 billion.


    Evaluation Yudayeva prevent a sharp rise in prices in 2014, measures the DCT was impossible. "Accelerating inflation was due to the action of unforeseen factors, the main influence of monetary policy on inflation is realized on the horizon of one year - one and a half years after the change key rate" - the document says.


    Nevertheless, the increase in key rates by the Bank of Russia in 2014 to limit the scope of accelerating inflation and ruble devaluation due to the impact on inflation and exchange rate expectations of economic agents and contributed to the restoration of their propensity to save, said the Central Bank. The total contribution of external contingencies, as well as non-monetary factors in inflation at the end of 2014 will be about 3.5 percentage points, according to the main directions of the DCT.



    Читайте далее: http://www.vedomosti.ru/finance/news/35737601/bank-rossii-povysil-prognoz-po-inflyacii-na-2015-2016-gody#ixzz3IecrbDwl

    Austin

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    Re: Russian Economy General News: #2

    Post  Austin on Mon Nov 10, 2014 8:56 am

    Putin: State Deficit Not to Grow, to Be Held at Controlled Level of Less Than 15% GDP

    BEIJING, November 10 (RIA Novosti) - Russia will not increase its state deficit and will hold it at a controllable level of no less than 15 percent of the gross domestic product, Russian President Vladimir Putin said Monday.

    “There will be no growth in the state deficit. We plan on holding it at a safe controlled level of no less than 15 percent of the GDP,” Putin said during his speech at the Asia-Pacific Economic Cooperation summit in China.


    Any reason why they would maintain a low Public debt of 15 % ( current debt is 11 % of GDP ) in absence of external financing ? Ideally they would increast Public Debt to say 25 % of GDP via some sort of QE. 

    What good a low Public Debt would serve when most EU countries have debt of ~ 90 % of GDP and even BRICS average Public Debt is around ~ 50 %

    Austin

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    Re: Russian Economy General News: #2

    Post  Austin on Mon Nov 10, 2014 8:59 am

    [url=http://en.ria.ru/business/20141110/195426237/Russian-Central-Bank-Sets-Economic-Scenario-with-Oil-Prices-at.html]Russian Central Bank Sets Economic Scenario With Oil Prices at $80 Per Bbl to End of 2017  [/url]


    MOSCOW, November 10 (RIA Novosti) – The Russian Central Bank has dumped the idea of developing a stress scenario for the development of the economy that would account for oil prices hitting $60 per barrel and believes oil prices will not drop below $80 per barrel up to 2017, the bank said in a statement Monday.

    The most pessimistic economic forecast also takes into consideration western sanctions that will most likely remain in place until the end of 2017, the statement reads. The Central Bank's base scenario suggests that oil prices will reach $95 per barrel in 2015 and will be corrected to $92 per barrel by 2017.

    “The results on the net personal outflow of capital for 2014 is assessed at the level of $128 billion, which is higher than the forecast,” the statement reads.

    Russia’s economy will be stable even if the price of oil in 2015-2017 remains at $80 per barrel


    The country’s Central Bank can use instruments to slow inflation to 6-6.5 percent in 2015 and to 4-4.6 percent to the end of 2017, Central Bank First Deputy Chair Kseniya Yudayeva said.

    “The Russian economy will be stable even if the price of oil remains at $80 per barrel throughout 2015-2017 and [western] sanctions are not reversed. The Central Bank has instruments it can use in any development of events to gradually lower inflation to 4.0-4.6 percent by the end of 2017, and approximately 6.0-6.5 percent in 2015,” Yudayeva said.

    The Central Bank’s base scenario suggests that oil prices will return to $95 per barrel in 2015 and will be corrected to $92 per barrel by 2017.

    Yudayeva said Russia’s economy would grow by more than 3 percent under favorable conditions, but even if conditions turned negative, the economy would still have a positive outcome by 2017.

    According to Yudayeva, in a favorable development of events, Russia's economy will grow by more than 3 percent by 2017, but even if conditions turn negative, the economy will still show positive growth.

    The Russian financial regulator, however, has significantly raised its capital outflow forecast for 2014 to $128 billion against $90 billion previously expected .
    Early in October, Yudayeva announced that the Russian financial regulator was working on a shock scenario for financial policy in the case of a plunge in oil prices. There were three options in the scenario, with the toughest of them suggesting an action plan should prices fall to $60 per barrel.

    Russian Economic Development Minister Alexei Ulyukayev said, however, that he does not believe in such a dramatic price decline. The Russian Finance Ministry said that it expects global oil prices to stabilize at $90 per barrel in the medium-term, although there could be a short-term fall in 2015.

    Senior politicians, including President Vladimir Putin and Finance Minister Anton Siluanov, repeatedly stated that Russia's 2015 budget for will be executed in any macroeconomic situation, regardless of inflation, oil prices or any other factors.

    Elvira Nabiullina: Russia's Central Bank plans to temporarily limit ruble liquidity for banks


    “We will temporarily limit ruble liquidity because it’s not only being used for financing the economy, but also for playing on the currency market,” bank head Elvira Nabiullina said.

    Elvira Nabiullina said the Central Bank would step in whenever it needs to in order to regulate the growth of speculative demand on the currency market.
    “The Central Bank will ingress onto the currency market whenever and in whatever volume that is needed in order to curb the speculative demand," Nabiullina said.
    She also said that the Central Bank would halt regular currency intervention, in particular the sale of $350 million a day if the rate of the ruble drops lower than the level defined by regulations.

    On November 5, the Central Bank said that it drastically decreased its support for the national currency, which has weakened the ruble. The ministry added it was pursuing the transition to free floating currency exchange rates.

    On November 8, the Russian Economic Development Ministry said it did not expect a recession in the first quarter of 2015, though noting that the period between February and March 2015 could be acute.

    Russia's Economic Development Minister Alexei Ulyukayev said that the ruble's exchange rate would strengthen in the short term, stressing that there was no need to introduce foreign exchange restrictions.

    Earlier on Monday, Russian President Vladimir Putin said that Russia expected the ruble's fluctuation to end soon and was ready to use currency intervention, if necessary, in order to stabilize the market.

    "We are currently observing speculative jumps in the exchange rate [of the ruble] but this will soon end, keeping in mind the actions the Central Bank is taking in response to speculators on the currency market," Putin said.

    Russia's national currency, the ruble, has lost about a quarter of its value since the beginning of 2014.
    In recent months Russia's economy has been exhibiting signs of a minor slowdown due to geopolitical tensions and Western sanctions over Russia's alleged role in the Ukrainian crisis and falling oil prices.

    According to the European Commission's forecast published earlier in November, a gradual recovery of the Russian economy may be expected only in 2016.



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    sepheronx

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    Re: Russian Economy General News: #2

    Post  sepheronx on Mon Nov 10, 2014 9:25 am

    Austin wrote:Good Read

    Russia’s Vulnerability to EU – US Sanctions and Military Encroachments

    Decent article but KVS is right. Oil and gas make up a smaller amount of the GDP but does indeed account for the larger part of the budget.

    There are indeed many oligarches still around whom may not be friendly to Russia and Putin (5th columnists) but they are slowly being thrown to the wolves (recent was sestima President and some construction oligarch), and the rest seem to be getting exposed. Although, Putin and Russia also has their own allied Oligarches whom work in favor of themselves but ends up working for Russia.

    As KVS said, the real threat to Russia are the foreign based NGO's. This threat also exists in China and India (India is getting it bad like Russia is by these NGO's). And at this point, either they outright ban them, or attempt the same to US and Canada. Oligarches are easier to throw in jail or strip them of their assets, not so much to these organizations.

    As for Sanctions, the people complaining so far, are actually the people who work in the importing industry. Many sales of imported goods are dropping by fair amount, and the tourist industry that relies on flights out of the country and bookings for foreign locations. Instead, domesic tourism has increased roughly around 2M and domestic enterprises are seeling industrial and manufacturing increases not seen for quite some time. Recent is Avtovaz is at full manufacturing capacity. Aerospace is the other one. What many companies are facing is the credit crunch and CBR is at fault for this. So many enterprises will have to either deal with high interest rate loans (10% isnt that bad either, but still not very good), or use their own money from revenue to modernize production. Severstal is an example of them doing it themselves. Now Aviastar is making spare parts, and other companies are now opening lines up for import substitution.

    Austin

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    Re: Russian Economy General News: #2

    Post  Austin on Mon Nov 10, 2014 11:05 am

    Elvira: fixing the ruble is unreasonable waste of foreign reserves

    MOSCOW, November 10. / TASS / Fixing ruble is unreasonable waste of foreign reserves (GCR), said the chairman of the Bank of Russia Elvira Elvira in an interview to "Russia 24".




    "There are some calculations, they show how much we additionally spent in foreign exchange reserves, depending on the external conditions. Foreign exchange reserves we have enough, more than $ 400 billion, but if they spend unwisely and try to play against the fundamental market trends, we arrive at the same results, only after some time and with less gold reserves. That is, if to continue this policy, we would simply have reduced the amount of gold reserves. The same thing I can say to those who suggest fixing rate. This means absolutely unreasonable waste of gold reserves, "- noted Elvira.


    She stressed that the GCR "We need including, if there is a speculative attack on the currency market in order to protect its national currency."


    Also, The word Nabiullina capital outflows in the current environment will not put additional pressure on the ruble.


    "That depreciation of the ruble, significant that has already happened, it is sufficient to balance the whole balance of payments. Therefore, in our opinion, by the outflow of capital in the current environment of additional pressure on the ruble depreciation should not be" - she said.


    Russian banking system feels stable even with a significant depreciation of the ruble, the head of the Central Bank. "We do stress tests on a regular basis and see how our banking system will withstand certain negative factors. Indeed, even at a significantly reduced rate of our banking system feels stable enough" - said Elvira. According to her, Russian banks have accumulated "good currency buffer".


    "And the reduction of access to external financing markets are largely offset the foreign exchange repos. Here we provide ruble liquidity to banks on loans denominated broadcast into our economy."
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    Viktor

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    Re: Russian Economy General News: #2

    Post  Viktor on Mon Nov 10, 2014 2:44 pm

    Nice  thumbsup

    Russia, China sign technical agreement for Rosneft to supply 5 mln tons oil additionally

    Nice  thumbsup

    "Roselektronika" will create a production cluster in Novosibirsk

    Ruble is free floating as of now ...

    Russia's Central Bank Allows Ruble to Float Free

    and Japan disobeying its masters

    Gazprom Considering Japan's Offer on Gas Pipeline to Hokkaido

    trade surplus still growing

    Trade surplus in Russia in January-September increased by 5.5%
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    Hannibal Barca

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    Re: Russian Economy General News: #2

    Post  Hannibal Barca on Mon Nov 10, 2014 2:59 pm

    Viktor wrote:Nice thumbsup

    Russia, China sign technical agreement for Rosneft to supply 5 mln tons oil additionally

    Nice thumbsup

    "Roselektronika" will create a production cluster in Novosibirsk

    Ruble is free floating as of now ...

    Russia's Central Bank Allows Ruble to Float Free

    and Japan disobeying its masters

    Gazprom Considering Japan's Offer on Gas Pipeline to Hokkaido

    trade surplus still growing

    Trade surplus in Russia in January-September increased by 5.5%


    In today's meeting Abe virtually begged Chinese to keep Japan afloat. Hard times for the Zionists. They can threat and kill like always but no money around...
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    Flyingdutchman

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    Re: Russian Economy General News: #2

    Post  Flyingdutchman on Mon Nov 10, 2014 4:37 pm

    http://www.theguardian.com/world/2014/nov/07/rouble-crashes-russian-economy-brink-recession-currency
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    Mike E

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    Re: Russian Economy General News: #2

    Post  Mike E on Mon Nov 10, 2014 4:50 pm

    Flyingdutchman wrote:http://www.theguardian.com/world/2014/nov/07/rouble-crashes-russian-economy-brink-recession-currency
    Get that crap outta here... Typical western MSM crap that doesn't know a thing about the Russian economy.
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    Viktor

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    Re: Russian Economy General News: #2

    Post  Viktor on Mon Nov 10, 2014 6:03 pm

    Now this is a news I like to read Very Happy

    Putin: Russia to Create Industrial Development Fund for Long-Term Projects
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    sepheronx

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    Re: Russian Economy General News: #2

    Post  sepheronx on Mon Nov 10, 2014 7:00 pm

    Flyingdutchman wrote:http://www.theguardian.com/world/2014/nov/07/rouble-crashes-russian-economy-brink-recession-currency
    hahahahaha

    Whomever wrote that has no idea how economy works then.

    They say it is horrible that oil prices drop at same time the currency drops, but let us do some math here:

    $100/BBL (per Barrel) x 1000 (basic calc of how many barrels sold) x value of currency (lets say it was 30 Rubles per Dollar) = 3,000,000 Rubles (they cant even get currency name right)

    As per this: Oil Price, Brent is currently $83.39/bbl as of right now, Ruble is: finmarket 45.82 per USD so:

    $83.39/bbl x 1000 x 45.82 = 3,820,929.80

    So more Rubles.  Add in the fact that Rubles is the traded currency within the country, means they have received more of their currency.  Since Russia has grown to domestic development vs heavy imports, it will rely on the cost of the goods within the country and no currency exchange.

    Trade amongst various countries are now reliant on trade amongst their respective currencies and not USD anymore, so I guess it becomes a matter of the change of the Ruble compared to currencies of lets say, the Yuan (Russia's main trading partner being China): 7.47 Rubles per Yuan (finmarket)  Value of Yuan did increase over Ruble but by a much smaller margin that it will barely touch the consumer.

    Problem with these articles is they try to make it seem like Russia cannot survive without the imports from Europe.  What is the average prices in Russia now for lets say bread? http://www.numbeo.com/food-prices/country_result.jsp?country=Russia

    Yeah, prices are still lower than they are in Canada at a higher value currency the CAD is to Ruble and the fact we have a lot of our own products.

    http://www.numbeo.com/cost-of-living/country_result.jsp?country=Canada

    Viktor wrote:Now this is a news I like to read Very Happy

    Putin: Russia to Create Industrial Development Fund for Long-Term Projects

    I totally said a day or two ago that Russia needs to set up a Venture fund to fund businesses for long term to bypass CBR. guess I was right!
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    kvs

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    Re: Russian Economy General News: #2

    Post  kvs on Mon Nov 10, 2014 7:22 pm

    Austin wrote:
    What do you mean by Fully Monetized ?

    And how do countries like EU Euro , US $ , Japanese Yen and British Pound trade in their own currency without facing such issue ?

    When the prices reach their natural equilibrium. I already gave a good example of distorted prices in Russia: the $180 million
    dollars for a modernized Project 636 submarine. Most of the consumer prices have already reached their equilibrium, but large
    chunks of the economy are operating on depressed transition prices.

    None of the economies you mention is undergoing a transition. All of them have much higher money supply amounts per capita
    compared to Russia so there is more available for sale at any given instant. The money supply in these countries does not
    merely reflect more development. In fact, these countries have too much money supply since they have stimulated their
    economies by huge borrowing. Japan has a debt to GDP ratio of over 200%. But the prices in Japan are equilibrated unlike
    in Russia.
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    sepheronx

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    Re: Russian Economy General News: #2

    Post  sepheronx on Mon Nov 10, 2014 9:01 pm

    Russia is about to adopt anti-offshore measures
    MOSCOW, November 10. /TASS/. Russia is speeding towards the adoption of anti-offshore legislation. The State Duma (lower house of parliament) on Tuesday will hold the first reading of amendments to the Tax Code obliging both individuals and legal entities to notify the authorities of their foreign properties and profits. This step is in line with international trends and requirements posed by the Russian authorities, but experts tend to interpret it differently. Some argue it is the wrong time to tighten the screws, because the current pressures on businesses are already too high, while others claim that such restrictions should have been taken a while ago.
    The anti-offshore bill, authored by a group of legislators from different factions and supported by the government, if adopted, will establish a legal basis for exposing commercial structures that are not Russian tax residents but in fact remain under the actual control of Russian legal entities or individuals. The newly coined term for these is “foreign controlling entity” or “controlling person.” Starting from 2015, the controlling entities or persons will be obliged to notify the tax authorities of their participation in a foreign company and also to declare and confirm profits, which then will be taken into consideration in levying taxes in Russia.
    During the first two years following the adoption of new legislation, the measure will apply to those who control 50% of an offshore asset. In the longer term, the taxable stake will be lowered to 25% and possibly, even to 10%.
    The legislators hope that at least 20-30% of capital now leaving the country will be repatriated in the form of taxes. According to expert evaluations, offshore companies are involved in 40% of Russia’s foreign trade. Over the past two decades, an estimated $800 billion to $1 trillion has been taken out of the country.
    Not only small and medium companies, but also big business giants related with Russia’s state-run companies prefer to operate offshore in order to contain costs and run their businesses more effectively.
    When the bill was discussed in the government, there emerged a dispute between the Ministry of Finance, an advocate of the “hard line,” and the Economic Development Ministry, which proposed de-offshorization only for the defense-industrial complex and for companies deriving 50% of their revenues over the past three years from state defense contracts. In the end, the hard-liners gained the upper hand. All crucial ‘system-forming’ enterprises should have domestic registration.
    Experts are divided over whether the proposed measures will benefit the Russian economy.
    The director of the FBC Institute of Strategic Studies, Igor Nikolayev, is quoted by the daily Novyie Izvestia as saying that the de-offshorization vector is correct, but its timing is very wrong, for it will merely increase tax pressure on businesses, which are already big enough.
    Attempts at forcing major Russian companies to return to Russia would be fraught with considerable risks, such as inability to draw considerable financing from abroad or conclude certain foreign economic deals and soaring production costs, the daily Kommersant quotes senior counsel at the legal firm Sameta, Ksenia Levina, as saying.
    “We are ten years late with the adoption of such legislation, but it has been drafted in full compliance with the world trend of tightening control of financial flows,” senior lecturer at the stock and investment market department at the Higher School of Economics Alexander Arshavsky told TASS.
    He foresees no adverse effects harsher anti-offshore legislation might have on the Russian economy. “These measures are targeted not against those companies which are involved in active projects, but against those whose participation is passive, companies which merely get dividends. The income is generated in Russia and they get it through chains of offshore firms. The taxes they pay to the Russian budget is meagre. Some pay nothing at all," Arshavsky said.
    ITAR-TASS may not share the opinions of its contributors
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    Cyberspec

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    Re: Russian Economy General News: #2

    Post  Cyberspec on Mon Nov 10, 2014 10:01 pm

    kvs wrote:
    Austin wrote:Good Read

    Russia’s Vulnerability to EU – US Sanctions and Military Encroachments

    A weak article full of tropes....  

    IMO, the article does make some valid points but is on the alarmist side

    Also, I think this military threat to Russia is exaggerated beyond comprehension. The latest reinforcements sent to Eastern Europe are miniscule and to be honest remind me a bit of "Dad's Army". It takes contributions from 4-5 countries to scratch together a couple of squadrons....so unless they're prepared to throw some serious money into re-armament, this so called threat is just more smoke and mirrors and a PR scare
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    sepheronx

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    Re: Russian Economy General News: #2

    Post  sepheronx on Mon Nov 10, 2014 11:19 pm

    Cyberspec wrote:
    kvs wrote:
    Austin wrote:Good Read

    Russia’s Vulnerability to EU – US Sanctions and Military Encroachments

    A weak article full of tropes....  

    IMO, the article does make some valid points but is on the alarmist side

    Also, I think this military threat to Russia is exaggerated beyond comprehension. The latest reinforcements sent to Eastern Europe are miniscule and to be honest remind me a bit of "Dad's Army". It takes contributions from 4-5 countries to scratch together a couple of squadrons....so unless they're prepared to throw some serious money into re-armament, this so called threat is just more smoke and mirrors and a  PR scare

    The article makes no valid points. At least not on the economical sense. Already so far, it is 0.6% growth in GDP. Not a whole lot but not a recession. As for costs of goods and what not, look at what I posted above. I even show what costs of basic goods are in Russia in terms of food stuff (which is mighty important as most Russian's already own their own place thanks to Soviet times).
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    RTN

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    Re: Russian Economy General News: #2

    Post  RTN on Tue Nov 11, 2014 3:26 am

    Viktor wrote:Russia, China sign technical agreement for Rosneft to supply 5 mln tons oil additionally

    By far the biggest beneficiary of the sanctions imposed on Russia has been China.

    China is now purchasing oil from Russia at dirt cheap prices. No wonder the price of oil is falling globally.

    Russia should start selling oil to Japan, South Korea, South East Asia and even Africa and India.

    In this way Russia will not remain dependent on China.

    Austin

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    Re: Russian Economy General News: #2

    Post  Austin on Tue Nov 11, 2014 3:46 am

    RTN wrote:
    Viktor wrote:Russia, China sign technical agreement for Rosneft to supply 5 mln tons oil additionally

    By far the biggest beneficiary of the sanctions imposed on Russia has been China.

    China is now purchasing oil from Russia at dirt cheap prices. No wonder the price of oil is falling globally.

    Russia should start selling oil to Japan, South Korea, South East Asia and even Africa and India.

    In this way Russia will not remain dependent on China.

    No its not that Russia is selling China at dirt cheap price , for any customer with long term contract be it China or West they offer discount , also factors like pre-payment determine the price of Oil and Gas sold.

    Russia sells China Gas at $360 and Oil at  certain discount  which is quite normal as far as business transaction goes and a guranteed deal of 30 years.

    Remember Russia sells gas to CSTO countries at $180-200 for strategic consideration
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    kvs

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    Re: Russian Economy General News: #2

    Post  kvs on Tue Nov 11, 2014 9:03 am

    What oil to China? The current oil price has ZERO to do with Russia-China NATURAL GAS deals.

    As for the price of natural gas, Russia got the same prices it gets from the EU: $385 per thousand cubic meters. And
    this is not a fixed price, it will go up with inflation and if the oil price goes up. The oil will go up and the current drop
    is not some new epoch of cheap gasoline.

    Austin

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    Re: Russian Economy General News: #2

    Post  Austin on Tue Nov 11, 2014 9:18 am

    kvs what is your view of Russia restricting its Public Debt to under 15 % and not inreasing so say 20 % via its own QE.

    Most countries in Europe and US have public debt above 90 % and 100 % respectively
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    sepheronx

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    Re: Russian Economy General News: #2

    Post  sepheronx on Tue Nov 11, 2014 9:50 am

    kvs wrote:What oil to China?  The current oil price has ZERO to do with Russia-China NATURAL GAS deals.  

    As for the price of natural gas, Russia got the same prices it gets from the EU: $385 per thousand cubic meters.   And
    this is not a fixed price, it will go up with inflation and if the oil price goes up.   The oil will go up and the current drop
    is not some new epoch of cheap gasoline.

    This is where everyone gets it wrong. Somehow they think these gas deals means gas/refined oil here in north america. But you are correct that it really isnt much to do with oil but natgas. Rosneft has a $270B oil deal with China. Big but not that huge.
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    sepheronx

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    Re: Russian Economy General News: #2

    Post  sepheronx on Wed Nov 12, 2014 12:58 am

    http://www.finmarket.ru/main/article/3860083

    The church has stood up for the economy
    November 11th. FINMARKET.RU - Head of the Synodal Department for Church and Society, Archpriest Vsevolod Chaplin called for discussions about how to make the Russian economy more independent, and offered to consider the creation of an orthodox banking.
    "We are told that the famous crisis with the fall of the ruble against the dollar is an indicator of the state of our economy. And who said that? We can see that the economy did not fall on Russia the quarter, which fell on the ruble . It means someone is trying to assess We are not on the real state of our economy, and by the rules of the information bubble that inflated first, then down, "- said the priest at a meeting in Moscow with the club" Russian businessman "who joined the World Russian People's Council.
    According to him, "We are trying to convince that the country is experiencing a disaster, but in fact we can see that this is not the case that the estimates that are given by the rules, and under the direction of the means of external centers are not completely correlate with reality ".
    "Therefore, the question immediately arises: why we can not develop their own criteria for assessing the state of our economy and its future?" - The representative of the Church.
    He called for a broader discussion about how to ensure that Russia does not depend on management decisions and the estimates "are not invented by us, not by our rules," is it possible to create not just an independent banking systems in the independent relationship with those or other centers without external mediation center in New York or Hong Kong, "a system that would be based on ethical rules."
    Pointing to the fact that it turned out at Muslims who refused to usury, loan interest, but 'efficiency in Islamic banking is not abated, "the priest suggested to think about" whether Russia can offer orthodox banking system without usury, included in direct relations with China, the Islamic world, in other growing centers of influence in the world "; how to refuse the dictates in relation to the domestic economy of the global centers, "which are increasingly showing their unfriendly"; may waive those maximum rates and economic instruments, "which are associated with us unfriendly center", can "tighten the global economy, according to our own rules."

    Would be quite interesting if they do this.
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    sepheronx

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    Re: Russian Economy General News: #2

    Post  sepheronx on Wed Nov 12, 2014 1:04 am

    http://www.finmarket.ru/database/news/3860304
    Prime Finland called for tougher sanctions against Russia

    November 11th. FINMARKET.RU - Prime Minister of Finland Alexander Stubb called for tougher sanctions against Russia.
    Tuesday's broadcast television Finland, he said that the resumption of the fighting forces in the Ukraine the EU to reconsider the tightening of sanctions against Russia. According to the head of the government, "it is the most effective method of influence on Russia."
    "Money - the best mediator at the conclusion of peace. This is the only method: soft, but at the same time hard, which we can use, and it should be applied" - quoted Stubb portal broadcaster Yle.
    "We are in many ways on the doorstep of the Cold War," - said the prime minister. In these circumstances, Finland should act in two directions: follow the general lines of the EU and ensure that the voice of Europe was united. "It makes no sense to drive Finland in the gray area in which we were in during the last cold war", - said the prime minister.
    "At that Finland should maintain good relations with Russia on a political level, especially at the level of civil servants," - said Alexander Stubb.

    Isn't Finlands economy very tied to Russia? Seems not like a very smart move for Finland.
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    Regular

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    Re: Russian Economy General News: #2

    Post  Regular on Wed Nov 12, 2014 2:39 pm

    sepheronx wrote:http://www.finmarket.ru/database/news/3860304
    Prime Finland called for tougher sanctions against Russia

    November 11th. FINMARKET.RU - Prime Minister of Finland Alexander Stubb called for tougher sanctions against Russia.
    Tuesday's broadcast television Finland, he said that the resumption of the fighting forces in the Ukraine the EU to reconsider the tightening of sanctions against Russia. According to the head of the government, "it is the most effective method of influence on Russia."
    "Money - the best mediator at the conclusion of peace. This is the only method: soft, but at the same time hard, which we can use, and it should be applied" - quoted Stubb portal broadcaster Yle.
    "We are in many ways on the doorstep of the Cold War," - said the prime minister. In these circumstances, Finland should act in two directions: follow the general lines of the EU and ensure that the voice of Europe was united. "It makes no sense to drive Finland in the gray area in which we were in during the last cold war", - said the prime minister.
    "At that Finland should maintain good relations with Russia on a political level, especially at the level of civil servants," - said Alexander Stubb.

    Isn't Finlands economy very tied to Russia?  Seems not like a very smart move for Finland.
    His statement is full of contradictions. Cold war and EU... More sanctions but good relationship.. They should just join NATO instead of pushing EU to more confrontation.
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    Rmf

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    Re: Russian Economy General News: #2

    Post  Rmf on Wed Nov 12, 2014 3:50 pm

    https://www.youtube.com/watch?v=d2M5l__vCwo
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    kvs

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    Re: Russian Economy General News: #2

    Post  kvs on Wed Nov 12, 2014 10:38 pm

    Rmf wrote:https://www.youtube.com/watch?v=d2M5l__vCwo

    That look she gave him, as if he had just raped her. Merkel is a scumbag and acts like one.

    Germans have to live with the consequences of her quisling decisions in the service of Washington.

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    Re: Russian Economy General News: #2

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